IslamicFinance.de

Albaraka Banking Group BSC (ABG) has purchased 60 percent of the issued shares of Al-Tawfeek Financial Group through its subsidiary in Bahrain, Al-Baraka Islamic Bank.
Adnan Ahmed Yousif, president and chief executive of ABG, stated that the procedures for consummating the acquisition are currently being finalized. He added that this acquisition endorses our strong commitment to the region despite the economic and political developments regionally and globally, which clearly prooves our financial soundness and successful strategy.